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04 September 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
Global shares mostly fell Tuesday as trade concerns and reports that
manufacturing was slowing in China and the eurozone weighed on sentiment. Wall
Street was poised for a quiet open as traders returned from summer holidays and
a Labor Day break. The Total Investment
& Insurance Solutions
KEEPING SCORE: In Europe, France's CAC 40 dropped 1.7 percent to 5,324
and Germany's DAX shed 1.4 percent to 12,173. The FTSE 100 index of leading
British shares was down 0.6 percent at 7,459. U.S. indexes were set for a weak
open. Dow futures shed 0.3 percent and the broader S&P 500 futures were
down 0.2 percent. The Total Investment
& Insurance Solutions
ASIA'S DAY: Japan's benchmark Nikkei 225 lost 0.1 percent to 22,696.90,
while the Kospi in South Korea gained 0.4 percent to 2,315.72. Hong Kong's Hang
Seng added 0.9 percent to 27,973.34. The Shanghai Composite index jumped 1.1
percent to 2,750.58. Australia's S&P/ASX 200 fell 0.3 percent to 6,293.10
after the Reserve Bank of Australia maintained its economic outlook and kept
its benchmark interest rate at a record-low 1.5 percent.
TRADE CONCERNS: On Saturday, President Donald Trump warned that Canada
"will be out" of a revised North American trade agreement unless it's
fair to the United States. Talks to keep Canada in the trade bloc are to resume
Wednesday as Washington and Ottawa try to break a deadlock over issues such as
Canada's dairy market and U.S. efforts to shield drug companies from generic
competition. The two countries will continue to engage in trade talks, despite
missing a deadline set by the Trump administration. A U.S.-Mexico deal sealed
last Monday excluded Canada. The Total
Investment & Insurance Solutions
MANUFACTURING WEAKENS: A private survey showed manufacturing activity in
China slowed to a 14-month low in August. The Caixin Manufacturing PMI, which
measures growth in the sector, came in at 50.6, slightly lower than 50.8 in
July. The index is on a 100-point scale, with 50 separating contraction from
growth. Separately, manufacturing in the 19-country eurozone softened after
hitting a two-month high. IHS Markit's eurozone manufacturing purchasing
managers' index was 54.6 in August, down from 55.1 in July.
ANALYST'S TAKE: "Investors are resetting their risk-taking appetite
in September," said Selena Ling, chief economist at OCBC Bank.
ENERGY: Benchmark U.S. crude added $1.34 to $71.14 a barrel on Tuesday.
It had lost 0.6 percent to settle at $69.80 a barrel in New York. Brent Crude,
used to price international oils, gained $1.18 to $79.33a barrel.
CURRENCIES: The dollar rose to 111.22 yen from 111.08 yen. The euro fell
to $1.1561 from $1.1619.The Total
Investment & Insurance Solutions
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